https://www.taxtmi.com/caselaws?id=356361 Registration under section 12AA cannot be cancelled merely because a trust or institution's receipts from activities covered by the proviso to section 2(15) exceed the prescribed monetary threshold in a particular year. The statutory scheme treats excess commercial receipts as a ground for denial of exemption for that year, not as proof that the activities are nongenuine or that the objects have changed. Cancellation is justified only if the activities are not genuine or are not carried out in accordance with the stated objects. The CBDT circular relied on in the text reflects this distinction, making cancellation unsustainable on threshold exceedance alone. en-us Fri, 23 Feb 2018 00:00:00 +0530 Mon, 05 Mar 2018 07:13:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356361 Registration under section 12AA cannot be cancelled merely because a trust or institution's receipts from activities covered by the proviso to section 2(15) exceed the prescribed monetary threshold in a particular year. The statutory scheme treats excess commercial receipts as a ground for denial of exemption for that year, not as proof that the activities are nongenuine or that the objects have changed. Cancellation is justified only if the activities are not genuine or are not carried out in accordance with the stated objects. The CBDT circular relied on in the text reflects this distinction, making cancellation unsustainable on threshold exceedance alone. Case-Laws Income Tax Fri, 23 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356361